LIFT raises C$20 million in public offering

LIFT Announces C$20 Million Public Offering

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THE SHELF PROSPECTUS SUPPLEMENT, THE CORRESPONDING BASE SHELF PROSPECTUS AND ANY AMENDMENT TO THE DOCUMENTS ARE ACCESSIBLE THROUGH SEDAR+, OR WILL BE ACCESSIBLE THROUGH SEDAR+ WITHIN 2 BUSINESS DAYS, AS APPLICABLE.

VANCOUVER, British Columbia, Aug. 04, 2026 (GLOBE NEWSWIRE) -- Li-FT Power Ltd. (“LIFT” or the “Company”) (TSXV: LIFT) (ASX: LFT) (OTCQX: LIFFF) (Frankfurt: WS0) is pleased to announce that it has entered into an agreement with Canaccord Genuity Corp., as lead underwriter and sole bookrunner on behalf of itself and a syndicate of underwriters (collectively, the “Underwriters”), in connection with a “bought deal” public offering of 6,900,000 common shares of the Company (the “Offered Shares”) at a price of C$2.90 per Offered Share (the “Offering Price”) for gross proceeds of C$20,010,000 (the “Offering”).

The Company has also granted the Underwriters an option (the “Over-Allotment Option”) exercisable, in whole or in part, at any time and from time to time, within 30 days after the closing of the Offering, to purchase up to that number of additional Offered Shares at the Offering Price equal to 15% of the number of Offered Shares issued pursuant to the Offering.

The Company is party to an investor rights agreement which provides Avenir Minerals Limited (“Avenir”) with certain rights, including a right to participate in certain equity financings of the Company. The Company will provide the necessary notice to Avenir in accordance with the terms of such investor rights agreement and anticipates that Avenir will participate in the Offering.

The Company intends to use the net proceeds from the Offering to fund the estimated care and maintenance costs for the first year of the Renard option period under the Renard option agreement and for working capital, all as will be more particularly described in the Prospectus Supplement (as defined below).

The closing of the Offering is expected to occur on or about August 12, 2026 and is subject to certain conditions, including but not limited to the receipt of all necessary approvals including the conditional acceptance of the TSX Venture Exchange (the “TSXV”).

The Offered Shares will be offered publicly in all provinces and territories of Canada (other than Québec) by way of a prospectus supplement (the “Prospectus Supplement”) to the Company’s short form base shelf prospectus dated November 14, 2025 (the “Base Shelf Prospectus”) and may be offered on a private placement basis to “qualified institutional buyers” in the United States pursuant to Rule 144A or such other available exemptions from registration under the U.S. Securities Act (as defined below) and in such other jurisdictions outside of Canada and the United States, which shall include Australia, pursuant to exemptions from prospectus and registration requirements, and in all cases in compliance with applicable securities laws.